Panic of inflation

Inflation is shooting over everyone’s roof. 24x7 media is airing this pocket burning news non-stop. Both experts and uneducated are worriedly discussing the sad situation. A detailed analysis suggests that inflation is not a country specific problem or a region centric trouble. It has become a global phenomenon. If the inflation rate is going up in one country or in few others, poor governance can be citied as the reason. Economists and time-pass intellectuals would love to accuse those in the power corridors. Contradictorily inflation is sweeping across the world. Causes are beyond the comprehension of the local government and governance. It can be argued the other way around. The failure of collective governance is responsible for the global inflation. This may be the convincing argument for many reasons. One, the current economy belongs to transnationalism. Two, nation-states have become powerless even in controlling events inside its territories. Three, free market economy is redefining the place of control clutches. Four, vested interests of big powers are warming up to the jumping inflation. Five, speculation by the media through invited guests in the studios creates unnecessary panic among the commoners.

Apart from these macro reasons there are well known factors accelerating the global inflation. Galloping oil prices and the sub prime crisis in United States are popular problems. For oil prices the world has to think million times. It is natural for the oil producing nations to make a quick buck during the crisis. Who knows the real reason behind the crisis? It may be due to the artificial situation created by the producers to mint billions. Although OPEC (Oil Producing and Exporting Countries) deny this orchestrated high price, one cannot completely rule out their hand. It is kiddish to cry over their intended game. Natural to any producer’s mindset, OPEC may want to use the situation to its favor. To ward off the crisis, governments need to think outofbox. Unfortunately those in the seat of governance are careless and lethargic over the impending inflation blast.

In an electoral democratic country like India, the power masters will face the wrath during elections. It may be once in five years or minor scratches during the bye-elections and assembly elections. Now it has become customary for the major political parties to lose and regain elections once in five years. The waiting period or the punishment time is not too long. So the political classes don’t take the defeat too harshly. A day to mourn, a noon to introspect and a night to forget the electoral dust bites. Otherwise how can a political party which lived for more than 120 years forget the major electoral disaster to enjoy the next evening without any impact?

The common man deserves the ultimate salute. Caught in between the speculative media and burning inflation, he moves the nation with his iron will. To solve his problems the government and political parties just raise slogans. Smilingly the ministers appear in the television studios to show their face. Importantly there is no effort from the government to tackle the inflation problem.
From an in-depth analysis today’s political class is inept of solving people’s problems. They are imprisoned by the infighting, noisy media, lack of consensus, futile advisors and directionless industrial lobby. With this kind of bunch leading the world, the fate is known in advance. As long as the common people are willing to be led by the myopic leaders in politics and economy, there is no forward movement for the world. It is high time to evolve visionary leaders for the development of the entire planet earth. Otherwise all the world citizens are going to fall into the pit which the blind leaders are not aware. More importantly the vision dim leaders don’t understand the unnecessary panic created by media, fake intellectuals and other self-proclaimed stake holders of the development. Panic is worst than the problem. The need of the hour is leaders with spine and brain to take the morally and economically down people forward. Till then gloom and doom will be in circulation.